When we talk about passive income, we talk about the sort of income that requires minimal labor to earn and maintain.
In reality, passive income most definitely has to be the best way to make money because it is a “set and forget” model that enables you to earn money while you sleep.
If you don’t find a way to make money while you sleep, you will work until you die. – Warren Buffett
This kind of income flows in regularly and continuously without the need of putting in a lot of effort to create it.
In this article, we’d be talking about 5 ways on how you can make passive income online as a complete beginner with no previous skills. The methods we will be sharing today are completely free to start up and just require little time and dedication.
The affiliate marketing business has made thousands and thousands of people serious money online right from the comfort of their home.
Affiliate Marketing is simply a business model that enables people to promote the products or services of another person or company in exchange for a commission.
You don’t have to worry about the customer service, the logistics and every single challenge a normal business face, all you are doing is taking your unique link, telling people about products that they need, and when they buy using your link, you get a commission; for example, let’s say you are promoting a product worth $100 of which you get a 50% commission per sale, this automatically mean that if you can get just four people to buy that specific product which isn’t yours, you get $200 instantly.
Just to be clear, Affiliate marketing can create generally automated revenue through commission but at first you’ll need to put out time to search for the best traffic sources for the audience you are trying to reach. The concept of affiliate marketing have personally made me thousands of dollars online as it is just a “set-it-once” model that enables you to earn consistently.
The good part about affiliate marketing is that there are but only 2 things you need to get started with;
- Create a website or blog in your niche(FREE)
- Choose affiliate products to promote(FREE)
When we talk about creating a website or blog for your Niche, this may sound a little bit complex but I assure you within minutes you can set everything up to start earning on autopilot.
To make money with affiliate marketing, the first thing you need is a website although not in all cases.
WordPress takes away all the stress as you dont even need to code to get your official website on ground.
Now, there are other ways on how you can earn passively with affiliate marketing even without a website, amongst these methods are using the Email Marketing strategy where you base your marketing power on the email platform, we talked more about this strategy HERE so be sure to check that out.
There are so many affiliate networks that are completely free to join right now however the following are a couple of the most famous:
- CJ Affiliate
- Amazon Associates e.t.c.
One of the advantages of these affiliate networks is that they ordinarily have more information on how well an item sells. Due to the statistics they have on these products, you would be able to utilize that information to expand your associate advertising benefits and pick out the best products to promote.
YouTube is currently the second biggest search engine in the world and a whole lot of people have optimized their earning by making videos on YouTube. A lot of people shy away from the thought of making money with youtube because of the stress of making videos, nevertheless YouTube is one of the best ways of making money passively online.
There’s something called Google adsense which is in synchrony with every youtube account that is monetized. The concept is that as advertisers advertise their products on these monetized channels, that channel keeps a cut as revenue from what is paid by that advertiser, and lots of big youtubers with huge followings have been able to earn a decent living passively using this method. YouTube can be called a money making machine if you follow the rules and work consistently.
Aside from earning money with adsense, there are other ways youtube can serve as a passive income stream for you. Due to the fact that videos you make would stay on the platform for however long YouTube is around you can Sell items or products and keep on cashing out even while you sleep. There are a lot of items to sell that can assist you with bringing in cash through your YouTube channel. Selling stock—shirts, espresso cups, handbags and so on can yield great returns without having to pay for any advertisements.
There are also opportunities for you to work with brands as brands are putting in more investments these days on influencers to promote certain products to their audience.
Blogging simply means a process of writing an online journal in which you share your thoughts and opinions about a particular subject with readers. These subject matters can range from finance talks, health talks, fitness talks, entertainment talks, etc.
There are lots of big bloggers earning passive income online every single minute each time someone reads their blog and this model of making money still works hand in hand with the Google adsense automation.
This is like youtube, but the written form; bloggers and owners of websites have the power to synchronise their Google adsense account to their website giving Google the right to show ads on that page, and for any visitor that website brings to view each of these advertisements and content of the website, the blogger earns. Now some of these bloggers get thousands and thousands of views every single day and since this model works “per view”, it is a very lucrative way to passively earn money online even while you sleep.
The question most people tend to ask is “how much one can really make just writing blogs”. It would interest you to know that the amount of money you can make blogging depends solely on a few factors such as:
- Which specific niche you are going for Health,finance,fitness,entertainment e.t.c.
- How much time you are dedicating to learning and taking action? Even though on the long run this is a passive income stream, you need to set things straight and do the needful at first, learning how to rank and implementing certain growth strategies are key areas on learning of which one can actually focus on to make the process easier.
- How much traffic you drive to your blog? The major statistics in terms of blogging is views, the more visitors that read up what you post, the more income you earn as they view ads also, it’s that simple.
- What advertising techniques do you use? Facebook and Instagram ads are great but do you go the extra mile to promote on youtube, forums and other discussion groups? These are techniques that could further increase the amount of money you earn at the end of the day.
Amongst all these is Consistency, most people tend to give up on the first five published posts they make due to low views. While having a great idea is good, consistency will take you to the point you’re aiming for.
When we talk about Drop Servicing, we talk about a business model where you sell services that you really do not complete or fulfill yourself, rather you outsource the work to a freelancer on fiverr, upwork or an agency that completes a project while you’re only in charge of selling the service to a client.
This is a very profitable model to earn passive income allowing other people to work for you. The cons to this is that inasmuch as you do not need to buy any physical goods to start this business nor do you have to do shipping of products, only a few persons understand how to scale this business model.
Aside from the usual web development, logo design, SEO, and the likes that people tend to drop service, you can actually drop service anything of your choice as long as you have a product and someone willing to work.
The good thing about drop servicing is that as the owner of a drop servicing business, the only thing you are concerned about is the logistics of the business, the rest gets handled by your employees.
There is low start-up cost and you don’t really have to invest any of your cash in learning any service skills as you are easily outsourcing everything to a third-party service provider or someone who can get the job done with ease.
People would argue that there are lots of investment to be made, but technically, if there is anything you would be investing in at all, that would be a small fee for creating a single page or a landing page website just to keep things professional of which there are now services like the mail chimp that can easily create a landing page for free displaying the services you’re providing.
With drop servicing you can choose to focus on High Ticket Sales as you are the owner of this business. I have friends that make up to $900 per sale with this business model on autopilot in total profits. These income can be monthly recurring Income with no additional cost because some companies and business clients can choose to pay you on monthly basis based on the services you provide for them, and remember the concept here, since you are not doing any of the work yourself and since all of the jobs are outsourced, you can make money online passively over and over again.
VIKTOR BENSON CHANNEL
A channel dedicated to posting content related to passive income streams ideas. If you are interested in learning more about earning with affiliate marketing $500-$1000 per month, then I suggest you subscribe to the Viktor Benson Channel.
On this channel videos are posted consistently on various ways to earn passive income online with affiliate marketing and with YouTube without ever having to show your face.
Passive income can be an extraordinary method to assist you with creating additional income, regardless of whether you’re running a side hustle or simply attempting to get just some additional bucks every month. In any case, passive income gives you additional security. Cheers!